Who would have thought an essay on BRICS would attract every lunatic on Medium? The comments are extra special ignorant, but that's what happens when the evening news educates and scares the public.
The BRICS nations endured colonialism and US-backed coups yet rebounded and united to protect themselves. So, when someone calls them trainwrecks, they're referring to the deadly disaster foreign nations and corporations inflicted on them.
The West did not make these countries strong. Western corporations ransacked, polluted, deforested, and devastated these nations' natural resources. American businesses and consumerism are responsible for most of the Amazon rainforest's destruction, and US economic dominance impoverished the people.
I learned about BRICS at university in the early 2000s and continued following its progress. Your assessment is accurate; the US weaponized the USD, initiating inflation and prompting countries to de-dollarize. It makes sense to trade with a local currency, but the US threatens governments that advocate for and attempt to use their currency.
However, nations seek sovereignty. They aren't directly challenging the US, but their independence from the US-controlled global economy is an indirect confrontation. Hence, the development of BRICS and the SCO.
Russia, China, India, Brazil, and numerous global south countries are resource rich with an educated population. The de-industrialized West relies on them more than they rely on the West, and nations seek BRICS membership to defend themselves against retaliation (including Saudi Arabia).
BRICS has had setbacks, but it established a financial system to assist countries with finance by creating a pool of their currencies, and Lula's presidency reignited the movement. Brazil and China trade in their currencies, and Saudi Arabia accepts the Yuan, which is an enormous blow to the US.
De-dollarization has increased for twenty years and accelerated when the West sanctioned Russia, yet US global economic and military dominance won't disappear overnight.
The price of gold and dollar reserves influence each other, and gold's value rapidly increases as nations back their currencies with a hard asset. It's quite insightful to keep an eye on the price of gold, and here's a link to a website.
Great post!
